SKF strengthens service capabilities through two acquisitions

2014 September 10, 15:00
CEST

Gothenburg, Sweden, 10 September 2014: SKF has acquired two companies as part of its strategy to boost its service capabilities. One of these is GLOi, a Swedish-based alignment technology solutions company. The other is Hofmann Engineering North America, a specialist engineering services company located in Ontario, Canada.

“An important part of our strategy is to grow our service platform business, both organically and through acquisitions,” said Vartan Vartanian, President, SKF Industrial Market, Regional Sales and Service. “GLOi’s technology expertise will help us to accelerate sales of our alignment and condition monitoring offerings. Having their capabilities within SKF puts us in a stronger position to launch and further develop both generic alignment tools and high-end application-specific alignment systems.

“Hofmann Engineering North America is recognized for its large pinion and gear solutions and expertise in grinding. Their vastly experienced people and high-quality services will make an important contribution to what we can offer to both OEM and aftermarket customers through our SKF Solution Factory network.”

GLOi has developed and launched an integrated shaft alignment solution based on the iOS software platform used by iPads and iPhones. Founded in 2010, the company’s annual sales were SEK 6.3 million in 2013. It serves a similar customer base to that of SKF, including Marine, Steel, Mining, Pulp and Paper, and Hydrocarbon Processing.

Hofmann Engineering North America is a high-precision machining operation based in Cambridge, Ontario, and has 16 employees. The company predominantly serves OEM customers handling large components in North America – mainly in Canada. Its offerings include large pinion and gear solutions, precision grinding, and custom engineering projects.

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2013 were SEK 63,597 million and the number of employees was 48,401. www.skf.com